Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Brett Jenkins Sells 4,331 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 4,331 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $170.64, for a total transaction of $739,041.84. Following the sale, the insider now directly owns 25,540 shares of the company’s stock, valued at $4,358,145.60. This represents a 14.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Nexstar Media Group Stock Up 0.5 %

Shares of NASDAQ:NXST opened at $170.61 on Tuesday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 52-week low of $141.38 and a 52-week high of $191.86. The business’s 50 day simple moving average is $168.98 and its two-hundred day simple moving average is $167.16. The firm has a market cap of $5.29 billion, a P/E ratio of 9.87, a PEG ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company earned $0.70 earnings per share. Nexstar Media Group’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. lifted its position in Nexstar Media Group by 8.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock valued at $410,000 after acquiring an additional 188 shares in the last quarter. Redwood Investment Management LLC lifted its holdings in shares of Nexstar Media Group by 5.5% in the first quarter. Redwood Investment Management LLC now owns 31,490 shares of the company’s stock valued at $5,425,000 after purchasing an additional 1,644 shares in the last quarter. EMC Capital Management boosted its position in shares of Nexstar Media Group by 35.8% during the first quarter. EMC Capital Management now owns 3,116 shares of the company’s stock valued at $537,000 after buying an additional 821 shares during the last quarter. Granite Group Advisors LLC grew its holdings in Nexstar Media Group by 5.1% during the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after buying an additional 72 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after buying an additional 156 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NXST. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Benchmark restated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $198.50.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.